Category Archives: 5th on the Park

The board of managers of the Lenox condo building at 360 Lenox Avenue in Upper Manhattan is suing the former sponsor, an entity controlled by Lewis Futterman’s Uptown Partners, over claims that the property is riddled with building code violations and rife with construction defects.

The suit was filed Dec. 31 in New York State Supreme Court. Per the filing, the developer failed to provide residents who bought off floor plans in 2006 with units that met the guidelines of the original offering plan. Unit owners have spent up to $260,000 for repairs. An additional $4 million is required. The board is seeking a judgment against the sponsor for damages for fraud and breach of contract.

The 77-unit, 12-story building launched sales in 2006. The sponsors filed for bankruptcy protection in 2009. Sales relaunched when the sponsor came to a deal with its lender in 2011.

Pre snowstorm we took these photos of the Gas Station lot on 110th Street and Frederick Douglass Boulevard showing that it is now completely fenced off, boarded up and waiting for construction to begin.

There seems to be a variety of articles about what the development will be (rentals, condos, both), what it will include (affordable units, how many, community space, etc), and so on. See our previous posts for the backstory here.

It would seem that this lot – which represents the last real estate property left along Central Park (West, South, East and North), will more likely be a new construction condominium complex. A reliable professional source to HarlemCondoLIfe in real estate who is always ahead of the curve on many stories, agrees with this assessment. There are several recent precedents for this configuration. For example Fifth On the Park on 120th Street and 5th Avenue along Marcus Garvey Park includes condominiums, affordable rentals and a community church.

Previously we posted One Morningside Park in Harlem already 40 Percent Sold, over a month ago. The other day we noticed the siding and windows are now being placed along the lower floors in the front. This process could move quickly but they still have the interior and all of the fixtures inside to finish up which could take several more months. However, our source connected with the development as well as our broker friend who has sold a couple of units in this building already, both say that they suggest completion by January 2014. I’d like to be that optimistic but I think that they are going to run over their estimated finis time a bit. New construction usually does just take for example some of the buildings in this area such as 5th on the Park, the Gateway Towers and The Livmor.

You can visit their website and make an appointment to view floorplans and additional details if you are interested in One Morningside Park.

Fifth on the Park is on 5th Avenue and 120th Street in Harlem adjacent to historic Mount Morris Park and walking distance transportation, services, top restaurants and hot spots. It is a 28 story condominium tower featuring a 24hr attended 40’ high art-filled atrium lobby, state of the art gym, heated lap pool with adjacent sun deck, community room with catering kitchen, free wi-fi and adjacent sun/dining deck with gas grills, state of the art gym, playroom, attended parking and much more. Apartments feature luxury appointments with unsurpasssed views. 421A tax abatement and immediate occupancy.

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